The International Civil Aviation Organization (ICAO) provides various classifications for airspace that include speed limits for aircraft, especially below certain altitudes while within a defined airspace. Aircraft speed may also be restricted in defined visual flight rules (VFR) corridors. However, due to cockpit workload, a pilot may inadvertently forget about a speed restriction and commit of violation while in the airspace with speed limitations. Hence, there is a need for a method and system for generating alert for an aircraft potentially exceeding speed limits in airspace with speed limitations.